Property sales across the Taranaki region at 201 in the month rose significantly on a seasonally adjusted basis in May and were up 20% as compared to a year ago. The inventory of unsold houses on the market fell slightly to 35 weeks to remain well above the long-term average of 25 weeks of equivalent sales.

Median sales price of property sold in the Taranaki region at $255,000 fell by 7% as compared to a year ago and was also down from the prior month. The asking price expectation of new listings was down 9% as compared to a year ago at $292,077.

The level of new listings coming onto the market in May at 197 was down from the prior month and down 4% as compared to a year ago.